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Regarding Withdrawal
PSG INVESTMENT BANK
  PSG Investment Bank Holdings Limited
  (Incorporated in the Republic of South Africa)
  (Registration number 1998/017358/06)
  JSE Share code: PGH   ISIN: ZAE000022836
  ("PSGBH")
PSG INVESTMENT BANK
  (Registration number 1998/017358/06)
  ("PSGIB")
ANNOUNCEMENT REGARDING WITHDRAWAL FROM THEIR RATING RELATIONSHIPS WITH FITCH
RATINGS LIMITED ("Fitch")
   PSGBH and PSGIB announce that they have withdrawn from their respective
rating relationships with Fitch. Fitch has agreed to withdraw its ratings of
the said entities.
Attention is drawn to the fact that PSGBH and PSGIB have been recently rated
by C A Ratings (an affiliate of Standard and Poor) and accorded a short-term
rating of zaA2 and a long-term rating of zaBBB+, with a "stable" outlook.
  Johannesburg
  10 May 2002

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